Averting Public Debt Tsunami: Deficit Taxes for Individuals and Deficit Fines for Politicians

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F23%3A10253605" target="_blank" >RIV/61989100:27510/23:10253605 - isvavai.cz</a>

Result on the web

<a href="https://www.world-economics-journal.com/Papers/Averting-Public-Debt-Tsunami.aspx?ID=909" target="_blank" >https://www.world-economics-journal.com/Papers/Averting-Public-Debt-Tsunami.aspx?ID=909</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Averting Public Debt Tsunami: Deficit Taxes for Individuals and Deficit Fines for Politicians

Original language description

This study introduces an innovative policy proposal designed to improve the fiscal stance of most countries towards long-term sustainability. We suggest to implement &apos;deficit taxes&apos; for individuals and (100-fold higher) &apos;deficit fines&apos; for politicians in any year in which a (cyclically-adjusted) budget deficit occurs. In line with the theory of &apos;rational inattention&apos;, these taxes and fines will incentivize voters and politicians to stop ignoring debt accumulation and the threat of a fiscal crisis.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

World Economics

ISSN

1468-1838

e-ISSN

1474-3884

Volume of the periodical

24

Issue of the periodical within the volume

4

Country of publishing house

GB - UNITED KINGDOM

Number of pages

20

Pages from-to

19-38

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-85185325120